PPIH director receives 2,648 restricted stock shares

Rhea-AI Filing Summary

Sherrill Richard reported acquisition or exercise transactions in this Form 4 filing.

Perma-Pipe International Holdings, Inc. director Richard Sherrill received a grant of 2,648 shares of common stock as equity compensation. These are restricted shares that will vest on the first anniversary of the grant date. Following this award, he directly holds a total of 4,184 common shares.

Insider Trade Summary

Net Buyer: 2,648 shares

Net Buy 1 txn

Insider Sherrill Richard

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,648	$0.00	$0.00

Holdings After Transaction: Common Stock — 4,184 shares (Direct)

Footnotes (1)

1. F1. Restricted shares that vest on the first anniversary of the grant date.

Key Figures

Restricted stock grant: 2,648 shares Shares held after transaction: 4,184 shares Grant price per share: $0.00 per share

3 metrics

Restricted stock grant 2,648 shares Common Stock grant on 2026-06-24

Shares held after transaction 4,184 shares Total direct common stock holdings after grant

Grant price per share $0.00 per share Equity award, non-cash compensation

Key Terms

Restricted shares, vest, equity grant

3 terms

Restricted shares financial

"Restricted shares that vest on the first anniversary of the grant date."

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

vest financial

"Restricted shares that vest on the first anniversary of the grant date."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

equity grant financial

"The filing shows this was an equity award rather than an open-market purchase, reflecting compensation rather than a discretionary stock buy."

FAQ

What insider transaction did PPIH director Richard Sherrill report?

Director Richard Sherrill reported receiving a grant of 2,648 shares of Perma-Pipe International Holdings common stock. The filing shows this was an equity award rather than an open-market purchase, reflecting compensation rather than a discretionary stock buy.

Are the new PPIH shares granted to Richard Sherrill immediately vested?

No, the 2,648 shares granted to Richard Sherrill are restricted and will vest on the first anniversary of the grant date. Until vesting, the award is subject to forfeiture based on the company’s equity plan and award terms.

How many PPIH shares does Richard Sherrill hold after this Form 4 transaction?

After the reported grant, Richard Sherrill directly holds 4,184 shares of Perma-Pipe International Holdings common stock. This total includes the 2,648 restricted shares awarded as part of the latest equity compensation transaction disclosed in the Form 4.

Was there a purchase price for the PPIH shares granted to Richard Sherrill?

The reported per-share price for the 2,648 granted shares is $0.00, indicating they were issued as an equity award. This is typical for restricted stock granted under a company’s compensation plan rather than acquired through an open-market purchase.

What does the vesting condition on Richard Sherrill’s PPIH restricted shares mean?

The vesting condition means Sherrill’s 2,648 restricted shares will fully vest on the first anniversary of the grant date. Vesting usually requires continued service through that date, after which the restrictions lapse and the shares become fully owned.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/26/2026 - 04:08 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sherrill Richard

(Last) (First) (Middle)

2445 TECHNOLOGY FOREST BLVD

SUITE 1010

(Street)

THE WOODLANDS TEXAS 77381

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Perma-Pipe International Holdings, Inc. [ PPIH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/24/2026		A(1)		2,648	A	$0	4,184	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Restricted shares that vest on the first anniversary of the grant date.

	/s/ Richard Sherrill	06/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)